SAN FRANCISCO - Napo Pharmaceuticals, part of the Jaguar Health, Inc. (NASDAQ:JAGX) family, announced the issuance of new patents by the European Patent Office and IP Australia for crofelemer, a plant-based prescription drug. These patents cover treatment methods for certain rare gastrointestinal diseases, enhancing the drug's intellectual property protection.
The European patent is specific to treatment methods for short bowel syndrome (SBS), bile acid diarrhea, and related conditions using crofelemer, which inhibits chloride-ion transport. The Australian patent addresses the prevention and treatment of diarrhea associated with congenital diarrheal disorders (CDDs) using a proanthocyanidin polymer composition found in crofelemer.
Crofelemer is currently the only oral plant-based medicine approved under the FDA's Botanical Guidance for the symptomatic relief of noninfectious diarrhea in adults with HIV/AIDS on antiretroviral therapy. Its sustainable harvesting program in the Amazon (NASDAQ:AMZN) Rainforest supports quality, ecological integrity, and indigenous communities.
Jaguar Health is facilitating proof-of-concept studies in the US, European Union, and Middle East/North Africa regions for the use of crofelemer in SBS with intestinal failure and microvillus inclusion disease (MVID), an ultrarare CDD. Results from these studies are anticipated in 2024 and 2025. Published data from these investigations could potentially support early patient access to crofelemer in specific EU countries for these debilitating conditions.
SBS can lead to intestinal failure, requiring intensive nutritional support, and is associated with severe chronic diarrhea and related health issues. MVID, characterized by severe infantile diarrhea and malabsorption, currently has no approved drug treatments.
These developments are part of Jaguar Health's broader mission to develop sustainably derived plant-based prescription medicines for gastrointestinal distress. The company's portfolio also includes Napo Therapeutics, focused on expanding crofelemer access in Europe, and Magdalena Biosciences, a joint venture aimed at developing plant-derived prescription medicines for mental health indications.
The information in this article is based on a press release statement from Jaguar Health, Inc.
In other recent news, Jaguar Health, Inc. has reported significant developments. The pharmaceutical company noted a 20% year-over-year increase in net revenue for the first quarter of 2024, with revenues rising to approximately $2.4 million.
Moreover, the company is eagerly awaiting the results of its pivotal Phase 3 OnTarget trial for its drug Crofelemer, which is used for prophylaxis of cancer therapy-related diarrhea.
Simultaneously, Jaguar Health has decided to implement a 1-for-60 reverse stock split. This move, approved by a majority of voting power from common and Series J Perpetual Preferred stockholders, aims to maintain compliance with Nasdaq's listing standards and possibly attract a broader range of investors.
The company has announced its expansion into cancer supportive care with the in-licensing of the FDA-approved oral mucositis prescription product Gelclair. Despite a decrease in prescription volume, Jaguar Health managed to reduce its operational losses and overall net loss, indicating a positive direction for its financial health.
These are recent developments for Jaguar Health, which continues to shape its growth strategy with a focus on plant-based pharmaceuticals. The company is also preparing to reveal the results of its phase 3 OnTarget clinical trial by July 23, 2024, further highlighting its commitment to improving cancer supportive care.
InvestingPro Insights
As Jaguar Health, Inc. (NASDAQ:JAGX) continues to innovate in the field of plant-based prescription medicines, the company's financial metrics and market performance reflect a challenging landscape. The InvestingPro Data indicates a market capitalization of $20.08 million USD, underscoring the small-cap nature of the firm in a volatile industry. The company's P/E ratio stands at -0.1, with an adjusted P/E ratio for the last twelve months as of Q1 2024 at -0.47, suggesting that investors have concerns about the company's profitability.
In line with the company's focus on developing treatments for gastrointestinal diseases, the InvestingPro Tips highlight that the stock is currently in oversold territory according to the RSI, which could signal potential for a rebound if market sentiment shifts. Still, it is important to note that analysts do not anticipate Jaguar Health to be profitable this year, and the stock has been characterized by high price volatility.
The lack of profitability over the last twelve months, combined with a significant price decline over the last year and the absence of dividend payments, could be factors for investors to consider when evaluating the company's prospects. Despite these challenges, Jaguar Health's commitment to research and development in rare gastrointestinal diseases may offer long-term opportunities.
For those interested in a deeper analysis, there are additional InvestingPro Tips available that could provide further insights into Jaguar Health's performance and potential. By using the coupon code PRONEWS24, readers can get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, gaining access to a wealth of information to inform their investment decisions.
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